SOLUTION: can anyone help me solve this: find the balance(to the nearest cent) if $24,000 is invested at an annual interest rate of 6.8% for 10 years compounded continuously. I have tried t

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: can anyone help me solve this: find the balance(to the nearest cent) if $24,000 is invested at an annual interest rate of 6.8% for 10 years compounded continuously. I have tried t      Log On


   

Question 108165: can anyone help me solve this: find the balance(to the nearest cent) if $24,000 is invested at an annual interest rate of 6.8% for 10 years compounded continuously. I have tried to solve 5 times but cannot come up with a reasonable answer.
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
A=Pe%5E%28rt%29
A=24000e%5E%280.068%2A10%29
A=24000%2A1.97388
A=47373.07
After 10 years, you'll have $47373.07.